Yes, if an assessment payment is not received by the Due Date indicated on the payment coupon, a late penalty of 2% per month will be imposed. In addition, failure to pay an assessment installment when due may cause the whole amount of the outstanding assessment to become due and payable immediately as a result of the commencement of sale or foreclosure proceedings. All payments must be postmarked by the United States Post Office. Postmark must be on prior to the payment due date.
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